Analyst, Romit Shah, said, "The fact that Altera reiterated Q2 guidance might be perceived positively, considering the macro environment, but we believe second half consensus estimates of up 8% in Q3 and 6% in Q4 are too high...Our estimates are unchanged at $1.79bn/$1.63 (consensus $1.82bn/$1.71) in CY12 and $2.1bn/$2.00 (consensus $2.2bn/$2.16) in CY13...Altera trades at 17x our CY13 EPS, which we believe is expensive against a multiple of 12x for our coverage universe."

For an analyst ratings summary and ratings history on Altera click here. For more ratings news on Altera click here.